Insider Selling: Rambus Inc. (NASDAQ:RMBS) CEO Sells 10,000 Shares of Stock

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $58.64, for a total transaction of $586,400.00. Following the completion of the transaction, the chief executive officer now directly owns 306,931 shares of the company’s stock, valued at $17,998,433.84. This trade represents a 3.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Luc Seraphin also recently made the following trade(s):

• On Tuesday, March 18th, Luc Seraphin sold 10,000 shares of Rambus stock. The shares were sold at an average price of $53.79, for a total value of $537,900.00.

Rambus Stock Down 3.9 %

Shares of RMBS stock traded down $2.30 during trading hours on Wednesday, reaching $56.64. 712,451 shares of the stock traded hands, compared to its average volume of 1,261,153. The business has a fifty day moving average price of $59.66 and a 200 day moving average price of $53.18. Rambus Inc. has a 1-year low of $37.43 and a 1-year high of $69.15. The firm has a market capitalization of $6.09 billion, a PE ratio of 34.12 and a beta of 1.25.

Institutional Trading of Rambus

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC increased its holdings in shares of Rambus by 1,657.4% in the 4th quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock valued at $29,188,000 after purchasing an additional 520,754 shares during the period. World Investment Advisors LLC purchased a new stake in Rambus in the 3rd quarter worth approximately $989,000. Campbell Newman Asset Management Inc. boosted its stake in shares of Rambus by 72.2% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company’s stock valued at $2,064,000 after buying an additional 16,376 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Rambus during the 3rd quarter valued at $2,077,000. Finally, FORA Capital LLC grew its holdings in shares of Rambus by 63.7% during the 3rd quarter. FORA Capital LLC now owns 40,284 shares of the semiconductor company’s stock valued at $1,701,000 after acquiring an additional 15,671 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Evercore ISI started coverage on Rambus in a research note on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price objective for the company. Susquehanna upped their price target on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research report on Tuesday, February 4th. Robert W. Baird set a $90.00 price objective on shares of Rambus in a research report on Monday, February 3rd. Rosenblatt Securities raised their price target on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Finally, StockNews.com downgraded Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Rambus currently has an average rating of “Buy” and an average target price of $76.71.

About Rambus

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.